Thursday, March 28, 2024
Hawai'i Free Press

Current Articles | Archives

Sunday, October 21, 2012
Hirono’s Signature Legislation Will Drive Up Costs of Hawaii Housing
By News Release @ 1:07 AM :: 5842 Views :: Energy, Environment, National News, Ethics

HIRONO’S SIGNATURE LEGISLATION WILL DRIVE UP COSTS OF HAWAII HOUSING

News Release from www.Lingle2012.com  

HONOLULU – Mazie Hirono introduced a bill earlier this year in Congress that will drive up Hawaii housing prices and reduce the number of houses available for local families, according to Linda Lingle for Senate Campaign Manager Bob Lee. 

Hirono’s VISIT USA Bill would provide U.S. residential visas for foreigners buying a residential property worth at least $500,000 in the United States. For Hawaii, historically already a target for “second home” investments, this would add more incentive to foreigners to buy houses priced for younger and middle-income families.  

“I don’t know if Congresswoman Hirono knew this provision was in her bill or not, but she should have known,” Lee added. 

With this new incentive for foreigners, Hawaii would see further sharp increases in housing prices, making it even more unaffordable for local families who are struggling to find a home in one of the most expensive housing markets in the nation. [1] This could be a repeat of the foreign residential home buying spree, which took place in Hawaii in the 1980s that put homeownership out of the reach of many local families. 

“The VISIT USA Bill may mean more foreign visitors to Hawaii. However, I question Hirono’s judgment of including an additional incentive for foreign buyers to compete with and price our local middle-income families out of housing,” Lee said. 

# # # #

SOURCE: 

[1] Homeownership Markets, First Quarter 2012, Center for Housing Policy (available at: http://www.nhc.org/chp/p2p/). 

 

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT